A recent discussion on RetailWire discusses how crucial it is for retailers to integrate selling channels. If a customer wants to make a purchase online and pick up the item at the nearest store, then they should be able to do so. Wal-Mart does a great job with this. I believe most retailers know that they should be integrating their selling channels to keep up with the evolving shopper experience, but the problem lies in the technology investment and logistics of it all. Are most retailers ready to make the necessary monetary and time investments? Probably not. However, those retailers that already have integrated selling channels are ten steps ahead of competition.

What do you think? 

To prevent customers from migrating to supercenters, Stop & Shop and Giant, have introduced new logos, additional products, and a handful of high tech innovations. Stop & Shop and Giant have also expanded their private label offerings in order to compete against supercenter prices. Supercenters tend to focus on low price while forgetting about customer experience and service. If grocery store chains can offer low prices with their private label brands and offer an enhanced customer experience, they should have no problem maintaining their customers.

What do you think?

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A recent USA today article discusses how despite Americans are trying to save money, dessert is one item they cannot give up.

“Even in a down-turned economy, dessert is an affordable luxury,” says Alison Nelson, co-owner of two Chocolate Bar boutiques in New York City. “I think we still need to do things for ourselves and things that make us feel happier. If you’re looking for a comfort food, dessert is one of those areas that people are going to turn to.”

Dessert orders can help increase the average check. Waiters shouldn’t even ask if a customer wants a dessert menu. Just put it on the table! I know that there have been times when I have said no to dessert but after looking at a dessert menu, I’ve changed my mind.

Thoughts?

At Border’s first concept store in Texas, visitors should plan on spending a couple of hours at this two-level store to experience all the interactive features in travel, cookbooks, and other departments. For instance, in the digital center, shoppers can burn their own CDs and make audio books. There is even a self-publishing kiosk.

Borders and other bookstore chains such as Barnes and Noble face great competition from online booksellers such as Amazon.com as well as expanding book departments at Wal-Mart and Costco. Borders might have trouble competing on price, but they’re now focusing on the one factor they can truly differentiate themselves in–customer experience. All the interactive features will help increase the amount of time a customer stays in the store. The more time a customer stays in the store, the likelihood they will purchase also increases.

What are your thoughts?

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Studies show that menus using a numerical price format without the “$” symbol yielded, an average, $5.55 more in spending than menus with prices printed with either a dollar sign or written script.

If I owned a restaurant, I would consider taking out the $ sign on my menu. Let’s face it, restaurants are having a tough time making money with current economic conditions.  With more customers saving money by opting to eat at home, restaurants need to maximize revenue opportunity with existing customers. If you told me all it took to make an extra $5.55 per table was to take out a $ sign on a menu, I would go for it.

What do you think?

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Verizon Wireless aims to improve the wireless retail experience for customers by incorporating a new store design. Features to enhance the customer experience include a greeter kiosk that allows customers to check in once they enter the store and list their wireless needs so representatives can quickly assist them. In addition, the new store layout will have customer service and technical support departments, making it easy for customers to get account information, customer service and address technical issues from trained in-store staff.

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Fewer and fewer people have the time to sit down and eat for breakfast. Jack In the Box is now offering convenient breakfast bowls that are “easy to pick up and transport”. The breakfast bowls consist of a meal of eggs, meat, hash browns, and cheese. The suggested price is $2.99.

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Best Buy plans to open a dozen vending kiosks inside major airports across the country. The machines will stock cell phone and computer accessories, along with digital cameras, portable data storage devices, etc.

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I came across an interesting article discussing how department stores have differentiated themselves in the past, what they should focus on now, and what they should focus on in the future.

What happens when the majority of department stores sell similar brands at competitive prices? Retailers then need to start focusing on customer experience and customer satisfaction as differentiating factors.

For instance, retail electronics giant Best Buy offers in home tech support with Geek Squad.

Can you think of any other examples?

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Retailers know that they will be facing a difficult back to school season this fall. They are aggressively introducing new products, slashing prices, and amping up marketing. However, despite these efforts, analysts say it will make little difference to consumers pressured by rising costs.

What do you think?

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